Japan's Nikkei gives up gains on caution for Micron earnings

Business Recorder reported that Japan's Nikkei gave up its early advance on Monday and ended the morning session 0.05 per cent lower at 66,333.53. The index had climbed as much as 1 per cent to 67,034.74, its peak since mid-August, before sellers stepped in. Traders pulled back as Nasdaq futures lost ground in Asian hours, ahead of quarterly results from US memory chipmaker Micron Technology due on Wednesday.

GCI Asset Management's Takamasa Ikeda attributed part of the selling to Nasdaq weakness and to rebalancing at the close of the first half. Technology shares were mixed, with SoftBank Group up 2.28 per cent while Kioxia Holdings fell 2.33 per cent. Bank stocks provided some support, with Mitsubishi UFJ Financial Group rising 0.24 per cent and Sumitomo Mitsui Financial Group gaining 1.27 per cent. The broader Topix edged up 0.16 per cent to 4,135.38.